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Find the compound interest at the rate of $10 %$ per annum for two years. on that principal which in two years at the rate of $10 %$ per annum given Rs. 200 as simple interest.

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Rs. 810.

Rs. 720.

Rs. 210.

Rs. 310.

answer is A.

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Detailed Solution

Given,

Simple Interest (S I) = Rs 2 00 Rate (R) = 10 p .a . Time (T) = 2 years

Compound interest can be evaluated by Amount-Principal;
Also, simple interest,

S I = P × R × T 100

Where,

A =

Amount,

P =

Principal,

R =

Rate,

n =

Time.
Calculating principal,

S I = P × R × T 100 ⇒ P = S I × 100 R × T ⇒ P = 200 × 100 10 × 2 ⇒ P = R s 1000

The formula to calculate the amount is given by,

A = P 1 + R 100 n ⇒ A = 1000 1 + 10100 2 ⇒ A = 1000 1.1 2 ⇒ A = 1000 × 1.21 ⇒ A = 1210

Calculating compound interest,

C I = A − P C I = 1210 − 1000 C I = Rs 210

Thus, the compound interest is Rs. 210
Therefore, option (1) is correct.

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